Garware Technical Fibres has published a public announcement dated May 11, 2026 for the buyback of up to 16,17,500 (Sixteen Lakh Seventeen Thousand Five Hundred) fully paid-up equity shares at a price of INR 680 per share, payable in cash, for an aggregate amount not exceeding INR 110 crores. The announcement was published on May 12, 2026 in Daily Business Standard (English and Hindi, all editions) and Dainik Prabhat (Marathi, Pune edition), pursuant to Regulation 7 of the SEBI (Buy-Back of Securities) Regulations, 2018. The buyback will be conducted on a proportionate basis through the tender offer route using the stock exchange mechanism, with BSE Limited as the designated stock exchange. The submission was signed by Company Secretary Sunil Agarwal on May 12, 2026.

Buyback Details

The board of directors approved the buyback at its meeting held on Friday, May 08, 2026. The buyback represents 1.63% of the total paid-up equity share capital of the company. The aggregate buyback size of INR 110 crores represents 9.46% and 9.35% of the aggregate of the company's fully paid-up equity share capital and free reserves as per the latest audited standalone and consolidated financial statements for the year ended March 31, 2025, respectively — within the prescribed statutory limit of 10% under the Board approval route. Since the buyback is less than 10% of paid-up equity share capital and free reserves, shareholder approval is not required.

The buyback price is exclusive of transaction costs including brokerage, securities transaction tax, goods and services tax, stamp duty, filing fees payable to SEBI, advisors and legal fees, intermediary fees, public announcement costs, and other incidental expenses. In terms of Regulation 5(via) of the SEBI Buyback Regulations, the Board may, until one working day prior to the Record Date, increase the buyback price and decrease the number of equity shares proposed to be bought back, provided there is no change in the buyback size.

Buyback Price and Premiums

The buyback price of INR 680 per equity share was arrived at after considering factors including trends in volume weighted average prices on the stock exchanges, the net worth of the company, impact on other financial parameters, and the possible impact on earnings per share. The buyback price represents the following premiums over market prices:

Necessity for the Buyback

The buyback is being undertaken after taking into account the strategic and operational cash requirements of the company in the medium term and for returning surplus funds to shareholders in an effective and efficient manner. The Board considered the accumulated free reserves as well as cash liquidity reflected in the latest available audited financial statements as on March 31, 2025. The buyback is intended to return surplus cash to shareholders broadly in proportion to their shareholding, improve the company's return on equity, and provide eligible shareholders with the option to either participate and receive cash or retain their shares and benefit from a resultant increase in their percentage shareholding. A reservation of up to 15% of the buyback size has been made for Small Shareholders — defined as shareholders holding equity shares with a market value of not more than INR 2,00,000 on the basis of closing price on the record date.

Sources of Funds

The buyback will be funded from the company's free reserves (including securities premium account) or such other sources as may be permitted under the SEBI Buyback Regulations or the Companies Act. Borrowed funds from banks or financial institutions will not be used for the buyback. An escrow account will be opened with HDFC Bank Ltd. in accordance with Regulation 9(xi) of the SEBI Buyback Regulations. The company confirms there are no defaults subsisting in repayment of deposits, debentures, preference shares, term loans, or dividends.

Statutory Auditor's Report

Mehta Chokshi and Shah LLP, the statutory auditor of the company, issued a report confirming that the buyback capital payment of Rs. 11,000 Lakh is within the permissible capital payment of Rs. 11,626.47 Lakh calculated based on the audited financial statements. The auditor also confirmed that the Board has formed the opinion that the company will not be rendered insolvent within a period of one year from the date of the Board Meeting. The permissible capital payment was computed based on the following financials:

Promoter Non-Participation and Committee Formation

The promoters and promoter group of the company have expressed their intention not to participate in the buyback, as confirmed through letters of intention dated May 08, 2026. Given this non-participation, equity shares held by the promoters and promoter group shall not be considered for computing the entitlement ratio, resulting in a higher buyback entitlement ratio for other eligible shareholders. A Buyback Committee comprising Mr. S. S. Rajpathak (Director), Mr. Shashank Gupta (CFO), and Mr. Sunil Agarwal (Company Secretary) has been constituted and delegated powers to undertake all necessary acts in relation to the proposed buyback. The declaration of solvency has been authorised to be signed jointly by Mr. Vayu Ramesh Garware, Chairman and Managing Director, and Mr. Shridhar Shrikrishna Rajpathak, Director.

Pre-Buyback Shareholding Pattern

The shareholding pattern of the company as on March 31, 2026, prior to the buyback, is as follows:

The aggregate shareholding of the Promoter and Promoter Group as on the date of the Board Meeting and the Public Announcement totalled 5,29,70,480 equity shares, representing 53.36% of the paid-up equity share capital. Garware Capital Markets Limited holds the largest promoter group stake at 1,82,01,250 shares (18.34%), followed by Vayu Ramesh Garware at 61,57,400 shares (6.20%). The post-buyback shareholding pattern will be ascertained following the completion of the buyback.

During the six months preceding the Board Meeting, Garware Capital Markets Limited (Promoter Group) purchased 3,61,400 equity shares through open market transactions at prices ranging from INR 700.90 to INR 704.00 on November 28, 2025.

Key Intermediaries Appointed

The Board has appointed several intermediaries to facilitate the buyback process:

Trading Window and Regulatory Filing

The trading window for designated persons of the company has been closed since Wednesday, April 1, 2026, for the purpose of consideration of audited financial results for the quarter and year ended March 31, 2026. The trading window closure has been extended to cover the buyback proposal and will be reopened 48 hours after the submission of the audited financial results. Garware Technical Fibres Limited, formerly known as Garware-Wall Ropes Ltd., is registered at Plot No. 11, Block D-1, M.I.D.C., Chinchwad, Pune 411 019, India, with CIN: L25209MH1976PLC018939.

Garware Technical Fibres Limited has issued a public announcement informing its shareholders about a special window for the transfer and dematerialisation of physical securities, pursuant to SEBI Circular No. HO/38/13/11(2)2026-MIRSD-POD/I/3750/2026 dated January 30, 2026. The notice was published in 'Financial Express' (All India) and 'Loksatta' (Pune) editions on May 08, 2026, and was submitted to the stock exchanges under Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, under the signature of Company Secretary Sunil Agarwal.

Special Window: Key Details

The special window has been opened in accordance with the aforementioned SEBI circular to facilitate the transfer and dematerialisation (Demat) of physical securities. The following table summarises the key parameters of this window:

Eligibility and Scope

The special window is also available for transfer requests that were submitted earlier but were rejected, returned, or not attended to due to deficiency in documents, process, or otherwise. The window applies only to instances permitted under the applicability defined in the SEBI circular. The following cases are excluded from this window:

• Cases involving disputes between the transferor and transferee — such disputes may be settled through court or NCLT process
• Securities that have already been transferred to the Investor Education and Protection Fund (IEPF)

Lock-in Conditions

Shares transferred under this special window shall be mandatorily credited only in Demat mode. These securities will be subject to a lock-in for a period of one year from the date of registration of transfer. During this lock-in period, such securities shall not be:

• Transferred
• Lien-marked
• Pledged

How to Avail the Window

Eligible shareholders are requested to contact the Company's Registrar and Share Transfer Agent (RTA), MUFG Intime India Private Limited, for further assistance through the following channels:

The SEBI circular referenced in this notice has been uploaded on the company's official website at https://www.garwarefibres.com/ . The public announcement was dated May 07, 2026, and signed by Sunil Agarwal, Company Secretary (M. No. FCS 6407), from Garware Technical Fibres Limited's registered office at Plot No. 11, Block D-1, M.I.D.C., Chinchwad, Pune 411 019.